Supply Chain Constraints Ease as Apple Reports $83 Billion in Revenue
One of the side effects of the coronavirus pandemic has been a wave of supply chain disruptions. Governments worldwide have maintained varying degrees of quarantine orders for folks who test positive for COVID-19. An outbreak at a manufacturing facility could halt production for weeks.
Apple (NASDAQ: AAPL) warned investors that supply chain constraints could cost the tech titan up to $8 billion in missed sales in the quarter that ended in June. Thankfully, the disruptions were less than expected, and Apple pleasantly surprised investors by delivering $83 billion in revenue in its recently completed quarter.
It's no surprise that Apple's stock was up by more than 3% on the day following the earnings announcement. Apple's $83 billion in sales were hardly greater than the $81.4 billion it reported in the same quarter the prior year. However, investors feared it would be worse after Apple warned of the potential for $8 billion in headwinds from supply chain constraints.
Source Fool.com
